Daily Investment Interpretations

December 12, 2011

2011-12-12: (Monday Night): The markets tanked today on news that Moody's and Fitch have threatened to downgrade European debt (again?), and on yields rising above 10% on en-year Italian bonds: Indexes pare their losses, . The NASDAQ Composite Descended 34.59 points (-1.31%) to close at 2,612.26. The Dow retreated 162.07 points (-1.34%) to 12,021.39; the S&P 500 hit the silk to fall 18.72 points (-1.49%) to settle at 1,236.47. Oil rose to 99.84: Oil futures drop: gold inched up to 1,715: Gold ends at seven-week low on Euro woes. The VIX crept downward 0.71 points to 25.67
    
    Moody's: EU sovereign ratings still under pressure
    Fitch: Euro-zone debt crisis will linger into 2012
    Years' worth of home-sales data to be revised lower  
    Housing market in doldrums till 2016-
    Fiscal union missteps are distractions             
    American privilege rots an empire from within  This is an article written by Andy Xie in China's Caixin online. I find it particularly interesting because I suspect that Andy Xie has an international perspective. Hi principal thesis is that an ever-larger fraction of Americans are inheriting wealth and power without having to work for it.
    
    State of the Markets articles include:   
    Technical Talk- The Machines Are In Charge  
    Confidence Fades Amidst Rising Rates in Italy, Spain and Moody's Warning   
    Italian T-Bill Auction Sees Rates Fall Modestly
    Moody's Unimpressed With EU Summit; To Review Ratings     
    Do You Believe?  
    Hedge Funds Throw In The Towel (At Exactly The Wrong Time)   
    Intel Reduces Earnings Guidance for Quarter   
    Notable Notes and Quotable Quotes From the Week That Was  

    Market futures are neutral-to-up tonight.